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Case Studies - Financial Management
| Problem | Solution | Result |
| A new community health-care organization lacked the expertise to implement effective, yet practical financial controls and policies. | We developed customized and practical financial checklists and procedures that were suited to this organization's small size, but still effective. | Both the organization's Board of Directors and its auditor found the new controls to be effective, practical and easily understood. The checklists allowed each staff member to correctly perform the procedures required of them without using lengthy policy documents and procedures. |
| Planning in a major professional body was ad hoc, budgeting was disconnected from planning, and strategies and tactics were not aligned. Continuing operations failed to embrace shifts in strategic focus. | We developed and implemented integrated strategic planning, operational planning and budgeting processes. We ensured that operating plans reflected and supported the strategic plans, and that budgets reflected the operational plans. | Over the several years of improved planning processes, the organization consistently set and achieved balanced budgets, saw operational initiatives better aligned with strategies, and stakeholders better informed. |
| A large association had several departments, each of which operated more-or-less autonomously, with inconsistent policies and service standards, duplication of effort, and inefficiency. | We reengineered organization-wide business processes, moving the association to a customer service focus. A centralized member service and transaction-processing group was established, providing consistent levels of customer service, and smoothing out workflow among departments. | Overtime and temporary staff costs were reduced, association-wide head-count was reduced, and customer service was improved and made consistent. |
| Financial and operational reporting in a large association was not user focused and was not tied into strategies and plans, leaving Board members dissatisfied. | We significantly enhanced Board-level reporting, including implementing full quarterly financial reports and briefings, and annual report management discussion & analysis. | Board members reported a higher level of satisfaction with, and understanding of, reporting. Improved transparency and accountability to members was also achieved, exceeding the expectations brought about by emerging private-sector governance requirements. |
| An information technology service bureau, established to serve several sister professional bodies across Canada, was not customer-focused. Several clients were unhappy and considered taking shared functions back in-house. | We reorganized the service bureau, making customer service a priority for all staff. We increased both the breadth and depth of services, offering new applications, infrastructure support, and new customer service facilities. | No customers left the service bureau; in fact, several additional organizations began using its services. Satisfaction levels improved, and the service bureau's financial performance improved during this time. |
| The continuing education program of a large professional body was caught in a "death spiral" of increasing course fees and declining attendance. Several competitors moved into the market, further reducing attendance and critical mass. | We introduced a dramatically changed pricing model, significantly improved marketing, and implemented a lower cost-structure for course operations. | Program attendance increased four-fold in the following year, and by a further double-digit increase in the year after that. Once attendance had been stabilized, the program showed improved profitability, with no increase in staff head-count servicing the market. Several competitors left the marketplace. |
| A large association was locked into a long-term, mortgage on its building and property. While the interest rate was reasonable at the time of entering into the mortgage, rates had since declined significantly. | After confirming the unwillingness of the lender to renegotiate, we entered into a "synthetic mortgage blend-and-extend" transaction with another financial institution using interest rate swap products. | The net effect of the transaction was an immediate reduction in the effective borrowing rate of over 2 percentage points, reducing the association's annual interest expense by a six-figure amount. |
| Several sister organizations were independently acquiring Web-based e-learning software. Even though the same package was in use by several organizations, costs were high due to uncoordinated license purchases, and there was no focal point of expertise being developed in the application. | We led a project to quickly confirm the choice of software and implemented a shared version of the package. | The application was made available to cooperating associations at considerable savings over the aggregate costs previously being incurred. We also implemented improved security over student materials, and increased user satisfaction with the application through improved support for it. |
| An association's major new charitable and profile-raising initiative was mandated to achieve significant growth in participation, fundraising, and promotional goals. | We worked with communications staff, organizational suppliers and members to establish effective marketing and communications strategies and mutually rewarding sponsorship relationships for the event. We also worked in a hands-on logistical capacity to ensure the event was a high-quality experience for all participants. | The event increased its net charitable proceeds 25-fold, becoming a major near-six-figure fundraiser for children's' charities. |
| An association found that maintaining a library facility for its members was increasingly difficult and expensive. | We worked with a university faculty library to develop and implement a strategic alliance and support arrangement, enhancing the university library's collection and resulting in the association's membership having preferred access to it. | Association costs were reduced, including reducing facilities space and staff head-count, concurrently with providing an expanded resource to its members. |